Discount Rate D-Day – Government Set To Announce Consultation Outcome

colin_richmond By Colin Richmond

The Ministry of Justice has today (7th December) confirmed that the long-awaited announcement of the result of the consultation into the discount rate applied in personal injury claims will be made by 31st January 2017, as reported by (among others) The Law Society Gazette.

The rate, based on yields generated by index-linked government stock, has stood at 2.5% since 2001. Claimant organisations have long argued that the current rate is too high, taking into account changes in the economy in the period since it was set, leading to under-compensation of claimants who have suffered significant injuries.

https://www.lawgazette.co.uk/law/government-to-announce-decision-on-discount-rate-for-pi-damages/5059101.article

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